Modernizing Disclosure for a Digital World
Today, most Americans manage their finances online. But when it comes to receiving important investment documents, outdated rules still require registered funds to send paper disclosures by default—unless investors take the extra step of opting in to electronic delivery.
ICI advocates for commonsense reforms, such as the Improving Disclosure for Investors Act, that bring financial communication into the 21st century, improving convenience, accessibility, and sustainability for investors. The Improving Disclosure for Investors Act, introduced in the House and Senate, would make electronic delivery (e-delivery) the default method for investors to receive fund communications, such as account statements and shareholder reports.
E-Delivery Would Benefit Millions of Investors
According to ICI’s latest research, 95% of mutual fund–owning households have internet access, with many already paying bills, managing investments, and communicating with their financial providers digitally.
Plus, most fund investors prefer e-delivery:
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86% say the internet plays an important role in how they manage their finances.
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84% agree with making e-delivery the default as long as the paper option can be requested at no cost.
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75% of fund investors who prefer paper say e-delivery is still a good idea as long as they still have the option to receive paper delivery.
This reform would largely benefit:
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Middle-income households: 86% of mutual fund–owning households earning less than $50,000 have internet access.
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Older investors: 86% of mutual fund–owning households led by someone aged 65 or older are online and equipped for digital communication.
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Investors with disabilities: E-delivery enables accessibility tools like screen readers, zoom, and high-contrast settings—ensuring equitable access to vital information.
ICI supports this simple change that reflects how investors already live, work, and save. The Improving Disclosure for Investors Act would bring financial communication in line with the digital age and help more Americans stay informed, engaged, and in control of their financial future.
